Gothenburg, Sweden, 29 October, 2013: SKF's new issue of EUR 750 million senior unsecured notes with a seven year maturity and 2.375% coupon rate, closed today. The notes have been listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange's regulated market.
The issue gained strong market interest and was significantly oversubscribed. The notes were placed with around 200 international investors.
The proceeds of the issue will primarily be used to refinance the debt related to the acquisition of Kaydon Corporation
Citigroup, Deutsche Bank, HSBC and SEB acted as joint book runners for the transaction.
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2012 were SEK 64,575 million and the number of employees was 46,775. www.skf.com
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